Energy & Oil

Saturday, October 7th 2023 - 07:16 UTC
EU begins applying the Carbon Mechanism on seven imports with surcharges to 20% to 35%

The European Union has been proactive in pressuring its trading partners to adhere to its domestic greenhouse gas emissions reduction goals, primarily rooted in protectionism. First, with the imposition of the Deforestation Law last June. Now, with the adoption of the Carbon Border Adjustment Mechanism (Cbam), Brussels subjects imports of seven inputs to surcharges of 20% to 35% if production exceeds its environmental limits. Brazil is among the top ten potentially most affected exporters, especially in the iron and steel sectors.
Tuesday, October 3rd 2023 - 20:09 UTC
Despite Saudi Arabia's oil cut, OPEC+ production has increased boosted by Iran and Nigeria

Oil prices started to gradually recover during July, from a depressed second quarter, with the OPEC+ production cuts and the additional one million bpd reduction from the Saudi Arabia wells.
Saturday, September 30th 2023 - 09:58 UTC
Falklands Rockhopper claims the oil company is in “its strongest position”

The oil and gas exploration company with interests in the Falkland Islands, Rockhopper Exploration PLC, declared a pretax loss in the six months ended June 30 of US$ 2.6 million, from USD749,000 a year prior, as administrative expenses jumped 40% to 2.1 million pounds.
Thursday, September 28th 2023 - 08:37 UTC
UK implements a U-turn in climate policy and opens largest oilfields in North Sea to exploration and production

The United Kingdom approved the exploration and exploitation of oil and gas in its largest undeveloped field, the North Sea Transition Authority, the responsible regulatory body said on Wednesday.
Thursday, September 28th 2023 - 08:35 UTC
Guyana: oil and time

By Gwynne Dyer – Guyana is not a “hellhole country” of the sort Donald Trump complained about when he said he wanted immigrants to come to the US from white places like Norway instead, but it did used to be poor, tropical and largely populated by people of color.
Monday, September 25th 2023 - 10:00 UTC
Argentina insists Navitas Petroleum has a ban due to “illegal” operations in Falkland Islands

Argentina has again complained that the Israeli company Navitas Petroleum LP is operating in the Falkland Islands, Malvinas Islands, involved in illegal activities in Argentine insular territory without the pertinent hydrocarbons exploration and exploitation permits from the competent authorities.
Monday, September 25th 2023 - 09:55 UTC
Uruguay's Ancap awards all offshore exploration licenses open for bids

Uruguay's state-run oil company Ancap has awarded all seven offshore oil and gas exploration licenses open for bids to four foreign companies: YPF (Argentina), APA Corp (United States), and Shell and Challenger Energy Group (CEG) (United Kingdom), it was reported in Montevideo.
Friday, September 22nd 2023 - 10:04 UTC
Argentina releasing LPG trucks bound for Paraguay

In the latest episode of the feud between Argentina and Paraguay, trucks carrying liquefied petroleum gas (LPG) bound for Asunción and detained by Argentine customs began to be released Thursday, it was reported, a week after barges carrying fuel were also detained for unpaid tolls on the Paraná River waterway.
Wednesday, September 20th 2023 - 09:28 UTC
Argos transferring its North Falkland Basin production license to JHI Associates

Argos Resources Falklands said on Tuesday that the government of the Falkland Islands has agreed to the transfer of Argos's PL001 production license interests in the North Falkland Basin to JHI Associates based in Toronto, Canada.
Wednesday, September 20th 2023 - 09:00 UTC
French Total planning to drill for gas off shore Tierra del Fuego

France's Total Vice-president said the company will start drilling at the Fenix field off the southern Argentine province of Tierra del Fuego in March 2024 and expects to start production the following November.